6900 Leetsdale Dr, Denver, CO 80224-1701
- Retail space
- 6,000 SF
- 0.43 lot acres
Current Use by Public Records
- AutoZone Auto Parts / Auto Parts Store
Property Details for 6900 Leetsdale Dr
- Year built
- 2018
- Construction
- STEEL FRAME
- Lot size
- 0.43 lot acres
- Zone code
- B-2
- Property type
- Retail space
- APN
- 06174-00-189-000
- APU
- 617400189000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 31, 2018 | — | City & Cnty Of Denver | Lando LLC | Grant Deed · related | — |
Description
This exceptional investment opportunity presents a fee-simple ownership of a 6,000-square-foot AutoZone retail building situated on a 0.43-acre lot in Denver, Colorado. The property, built in 2018, is located at 6900 Leetsdale Drive, 80224, a high-traffic area with over 39,000 vehicles per day. The property benefits from excellent visibility at a hard-corner, signalized intersection. The single-tenant, absolute NNN ground lease with AutoZone, a credit-rated, corporate-guaranteed tenant, offers significant financial stability. The current lease commenced September 1, 2018, and expires August 31, 2033, with three 5-year renewal options. This provides a remaining lease term of approximately 8.8 years. The property boasts a 4.74% cap rate and a current Net Operating Income (NOI) of $78,756. The asking price is $1,660,000. This is a prime retail investment opportunity with a strong tenant and long-term lease, offering substantial returns and security. The property is offered free and clear of existing debt on an "As-Is/Where-Is" basis. The one-story building is part of a thriving commercial area with convenient access to major transportation routes and high-density residential neighborhoods, including Downtown Denver, Cherry Creek, Glendale, and Aurora.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,370,000
- 6.5%
- $1,265,000
- 7%
- $1,175,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $937,000
Market price range: $312k - $965k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,930,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $1,945,000 Change: +1% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $1,940,000 Change: +1% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $1,865,000 Change: -3% Conversion: Difficult
- MEDICAL BUILDING
- $1,820,000 Change: -6% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -104.908
- Latitude
- 39.6998
- CBSA code
- 19740
- CBSA name
- DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA
